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Title: |
Credit Agreement |
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Entities: |
Citicorp North America, Inc.; Citigroup Global Markets Inc.; Comerica Bank; International Container Systems Inc; Intertape Polymer Group Inc.; Polymer Group, Inc.; Toronto-Dominion Bank; Bank of New York |
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Date: |
2004 |
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Size: |
Preview shows 38KB of 645KB total |
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Price: |
$99 |
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ID: |
#1526539 |
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Start of Preview |
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CREDIT AGREEMENT
Dated as of July 28, 2004
among
IPG (US) INC.,
CENTRAL PRODUCTS COMPANY,
IPG ADMINISTRATIVE SERVICES INC.,
INTERTAPE POLYMER CORP.,
INTERTAPE INC.,
IPG TECHNOLOGIES INC.
and
IPG FINANCIAL SERVICES INC.,
as the U.S. Borrowers,
INTERTAPE POLYMER INC.,
as the Canadian Borrower,
INTERTAPE POLYMER GROUP INC.
and
IPG (US) HOLDINGS, INC.,
as Guarantors,
and
THE LENDERS REFERRED TO HEREIN
CITIGROUP GLOBAL MARKETS INC.,
as Sole Lead Arranger and Sole Bookrunner
and
CITICORP NORTH AMERICA, INC.,
as Administrative Agent
THE TORONTO-DOMINION BANK,
as Syndication Agent
and
COMERICA BANK
and
HSBC BANK USA, NATIONAL ASSOCIATION,
as Co-Documentation Agents
TABLE OF CONTENTS
| Page | ||||
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ARTICLE I. DEFINITIONS |
1 | |||
|
Section 1.01. |
Defined Terms |
1 | ||
|
Section 1.02. |
Classification of Loans and Borrowings |
52 | ||
|
Section 1.03. |
Terms Generally |
52 | ||
|
Section 1.04. |
Exchange Rates |
53 | ||
|
ARTICLE II. THE CREDITS |
53 | |||
|
Section 2.01. |
Credit Commitments |
53 | ||
|
Section 2.02. |
Procedure for Borrowing |
55 | ||
|
Section 2.03. |
Drawings of Bankers? Acceptances and Notional Bankers? Acceptances. |
57 | ||
|
Section 2.04. |
Swingline Loans |
60 | ||
|
Section 2.05. |
Letters of Credit |
62 | ||
|
Section 2.06. |
Incremental Term Commitments |
67 | ||
|
Section 2.07. |
Incremental U.S. Revolving Credit Commitments |
70 | ||
|
Section 2.08. |
Conversion and Continuation Options for Certain Loans |
72 | ||
|
Section 2.09. |
Renewal and Conversion of Bankers? Acceptances. |
73 | ||
|
Section 2.10. |
Optional and Mandatory Prepayments of Loans; Scheduled Repayments of Term Loans |
75 | ||
|
Section 2.11. |
Termination, Reduction or Adjustment of Commitments |
79 | ||
|
Section 2.12. |
Repayment of Loans; Evidence of Debt |
80 | ||
|
Section 2.13. |
Interest Rates and Payment Dates |
82 | ||
|
Section 2.14. |
Fees |
83 | ||
|
Section 2.15. |
Pro Rata Treatment and Payments |
85 | ||
|
Section 2.16. |
Inability to Determine Interest Rate; Unavailability of Deposits; Inadequacy of Interest Rate |
87 | ||
|
Section 2.17. |
Illegality |
88 | ||
|
Section 2.18. |
Requirements |
88 | ||
|
Section 2.19. |
Taxes |
90 | ||
|
Section 2.20. |
Indemnity |
92 | ||
|
Section 2.21. |
Change of Lending Office |
93 | ||
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Section 2.22. |
Sharing of Setoffs |
93 | ||
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Section 2.23. |
Assignment of Commitments Under Certain Circumstances |
94 | ||
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ARTICLE III. REPRESENTATIONS AND WARRANTIES |
95 | |||
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Section 3.01. |
Organization, etc. |
95 | ||
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Section 3.02. |
Due Authorization, Non-Contravention, etc. |
95 | ||
|
Section 3.03. |
Government Approval, Regulation, etc. |
95 | ||
|
Section 3.04. |
Validity, etc. |
96 | ||
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Section 3.05. |
Indebtedness Outstanding |
96 | ||
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Section 3.06. |
Financial Information |
96 | ||
|
Section 3.07. |
No Material Adverse Change |
97 | ||
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Section 3.08. |
Litigation |
97 | ||
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Section 3.09. |
Compliance with Laws and Agreements |
97 | ||
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Section 3.10. |
Subsidiaries |
97 | ||
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Section 3.11. |
Ownership of Properties |
97 | ||
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Section 3.12. |
Taxes |
98 | ||
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Section 3.13. |
Pension and Welfare Plans |
99 | ||
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Section 3.14. |
Environmental Matters |
99 | ||
|
Section 3.15. |
Regulations U and X |
101 | ||
|
Section 3.16. |
Disclosure; Accuracy of Information; Pro Forma Balance Sheets and Projected Financial Statements |
101 | ||
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Section 3.17. |
Insurance |
102 | ||
|
Section 3.18. |
Labor Matters |
102 | ||
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Section 3.19. |
Solvency |
102 | ||
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Section 3.20. |
Capitalization |
102 | ||
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Section 3.21. |
Subordination |
103 | ||
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Section 3.22. |
Representations in Other Documents |
103 | ||
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Section 3.23. |
Security Documents |
103 | ||
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Section 3.24. |
Anti-Terrorism Laws |
104 | ||
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ARTICLE IV. CONDITIONS |
105 | |||
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Section 4.01. |
Effective Date |
105 | ||
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Section 4.02. |
Initial Borrowing Date |
110 | ||
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Section 4.03. |
Conditions to Each Credit Event (other than Credit Events Occurring on the Initial Borrowing Date) |
118 | ||
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ARTICLE V. AFFIRMATIVE COVENANTS |
119 | |||
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Section 5.01. |
Financial Information, Reports, Notices, etc. |
119 | ||
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Section 5.02. |
Compliance with Laws, etc. |
122 | ||
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Section 5.03. |
Maintenance of Properties |
123 | ||
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Section 5.04. |
Insurance |
123 | ||
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Section 5.05. |
Books and Records; Visitation Rights |
124 | ||
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Section 5.06. |
Environmental Covenant |
124 | ||
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Section 5.07. |
Existence; Conduct of Business |
125 | ||
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Section 5.08. |
Performance of Obligations |
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